BidaskClub Upgrades Nordson (NASDAQ:NDSN) to Hold

BidaskClub upgraded shares of Nordson (NASDAQ:NDSN) from a sell rating to a hold rating in a research note released on Wednesday morning, BidAskClub reports.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of First Merchants from a hold rating to a sell rating in a report on Monday, July 1st. Oppenheimer lifted their price objective on shares of Nordson from $150.00 to $155.00 and gave the company an outperform rating in a report on Tuesday, April 23rd. Finally, ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $139.60.

Shares of Nordson stock opened at $137.51 on Wednesday. The business has a 50-day simple moving average of $135.01. The stock has a market cap of $7.86 billion, a P/E ratio of 23.15, a P/E/G ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.53 and a current ratio of 2.16. Nordson has a 1 year low of $110.16 and a 1 year high of $149.23.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Monday, May 20th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.06). Nordson had a net margin of 14.64% and a return on equity of 22.46%. The business had revenue of $551.00 million during the quarter, compared to the consensus estimate of $558.34 million. During the same quarter in the prior year, the company earned $0.15 EPS. Nordson’s quarterly revenue was down .5% on a year-over-year basis. Research analysts forecast that Nordson will post 6.15 earnings per share for the current year.

In related news, insider Jeffrey A. Pembroke sold 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $140.19, for a total transaction of $448,608.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael F. Hilton sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $128.06, for a total value of $768,360.00. Following the sale, the chief executive officer now directly owns 224,455 shares in the company, valued at $28,743,707.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,198 shares of company stock worth $1,344,592. Corporate insiders own 1.97% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. CX Institutional bought a new stake in shares of Nordson during the first quarter worth $30,000. Cordasco Financial Network purchased a new position in Nordson in the first quarter worth $30,000. Zions Bancorporation N.A. bought a new stake in Nordson in the first quarter worth $43,000. Icon Wealth Partners LLC bought a new stake in Nordson in the first quarter worth $56,000. Finally, Bessemer Group Inc. bought a new stake in Nordson in the fourth quarter worth $66,000. 68.91% of the stock is currently owned by institutional investors and hedge funds.

About Nordson

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.

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Analyst Recommendations for Nordson (NASDAQ:NDSN)

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